Connect with us

Canada

Michigan Loses Nearly $100M in Casino Tax Revenue, According to PlayMichigan

Published

on

 

The closure of 26 casinos in Michigan has cost the state and local governments nearly $100 million in tax revenue during the first three months of the shutdowns, according to a new analysis by PlayMichigan.

As Michigan moves toward reopening its casinos, PlayMichigan’s analysis shows how much revenue has been lost over the last three months.

“The closing of the state’s casinos has left a revenue hole in the Michigan budget that will be very difficult to fill. It shows just how difficult the road that lies ahead is as the state begins to recover from the COVID-19 pandemic,” Dustin Gouker, lead analyst for PlayMichigan.com, said.

According to the analysis authored by PlayMichigan.com’s Matt Schoch, the closures have resulted in a loss of $44.6 million in tax revenue for the city of Detroit, $44.2 million in tax revenue for the state of Michigan, $7.5 million in revenue for various local governments.

Combined, that is $96.3 million in lost revenue for state and local governments. And that number will continue to increase until every casino has reopened and recovered.

“The response to the pandemic was swift and understandable, but the toll has been significant in terms of tax revenue. And that is just one facet. Operator revenue has completely dried up, and that will have long-term ramifications, too, including job losses,” Gouker said.

The good news is many tribal casinos have reopened, albeit with reduced capacity and other limitations. And Gov. Gretchen Whitmer has expressed hope that Detriot casinos can reopen before July 4. But that too will come with restrictions that will continue to affect revenue, including a 15% capacity limit and a smoking ban on the casino floor.

In addition, new revenue will flow soon. Sportsbooks, which launched on March 11, were shuttered after collecting less than $600,000 in sports bets over six days. But with the sports world beginning to reopen—including the NBA in late July, which should draw significant interest—sports bettors will drive revenue never realized before.

“With the sports world figuring out a safe way to reopen, sportsbooks will be a key to Michigan’s recovery efforts. After three long months, a return to something resembling normal is welcome for everyone, including state and local governments and the operators themselves. If Michigan can avoid major setbacks, casino revenue will only help as the whole state recovers,” Gouker said.

Powered by WPeMatico

Continue Reading
Advertisement

Canada

Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo

Published

on

tonybet-pays-first-$15,000-cad-prize-in-world-cup-card-collection-canada-promo

Bronze card has been claimed during the group stage; silver and gold prizes remain available until 31 July.

Tonybet said it has paid out its first major prize in its World Cup Card Collection campaign for Canadian customers (excluding Ontario), after a player secured the promotion’s bronze card worth $15,000 CAD.

The operator said the World Cup Card Collection includes 51 cards to collect during the tournament: 48 digital cards tied to participating World Cup nations, plus three unique cards—gold, silver and bronze—linked to a $150,000 CAD total prize fund.

According to Tonybet, the bronze card has been available through the World Cup’s group stage and has now been claimed. The silver card is available during the knockout rounds up to the quarter-finals, while the gold card is held back for the closing semi-finals and final.

Tonybet Head of Product Kiryl Liudvikevich said: “With Canada co-hosting the World Cup for the first time, the tournament has felt closer to home than ever before for Canadians, and it has already delivered a moment most supporters could only dream about with the national team advancing to the knockout stages.

“For one lucky Canada supporter, it has now produced another story that will be worth retelling long after the final whistle has gone – with our lucky winner among the first Tonybet customers to win one of the unique cards in our World Cup Card Collection, taking home a cool $15,000 for managing to get his hands on bronze. Who will end up with silver and gold?”

Tonybet said the same three unique cards are also in circulation across its other markets, with varying outcomes so far. The World Cup Card Collection campaign runs until 31 July, with a $150,000 CAD prize pool for Canada and separate prize pools in other markets.

The post Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Canada

Tonybet’s World Cup Card Collection campaign lands first $15k Bronze winner

Published

on

tonybet’s-world-cup-card-collection-campaign-lands-first-$15k-bronze-winner

Tonybet’s World Cup Card Collection for Canadian customers has found its first major winner, with one lucky player taking home $15,000 CAD for securing the campaign’s prized bronze card.

There are 51 cards in total to collect during the tournament for Tonybet’s Canadian playerbase (excluding Ontario), including 48 digital cards – one for each participating World Cup nation – and three unique cards available in gold, silver and bronze – with a $150,000 CAD total prize fund on offer.

The three unique cards reward winners with prizes of $100,000 CAD for gold, $35,000 CAD for silver and $15,000 CAD for bronze – and the bronze card has now been discovered by a Tonybet customer, having been on on offer through the World Cup’s group stage.

The silver card comes into play during the knockout rounds up to the quarter-finals, with the gold card held back for the closing semi-finals and final.

Tonybet Head of Product Kiryl Liudvikevich said: “With Canada co-hosting the World Cup for the first time, the tournament has felt closer to home than ever before for Canadians, and it has already delivered a moment most supporters could only dream about with the national team advancing to the knockout stages.

“For one lucky Canada supporter, it has now produced another story that will be worth retelling long after the final whistle has gone – with our lucky winner among the first Tonybet customers to win one of the unique cards in our World Cup Card Collection, taking home a cool $15,000 for managing to get his hands on bronze. Who will end up with silver and gold?”

The same three cards are in circulation across Tonybet’s other markets. In some, a bronze has already been claimed; in others, all three are still waiting to be found.

Tonybet’s World Cup Card Collection runs until 31 July, with a $150,000 CAD prize pool (and separate pools running across its other markets).

The post Tonybet’s World Cup Card Collection campaign lands first $15k Bronze winner appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Canada

Gaming Corps goes live with OLG iCasino in Ontario

Published

on

gaming-corps-goes-live-with-olg-icasino-in-ontario

Gaming Corps has launched its casino game portfolio with Ontario Lottery and Gaming Corporation (OLG) in Ontario, bringing a selection of the Swedish studio’s titles to OLG’s digital casino audience.

The rollout includes football-themed games timed to the summer football calendar. Titles going live with OLG include Goals to Glory: Football Fever, Penalty Champion: Goals to Glory, and Goals to Glory: Instant Blitz, part of Gaming Corps’ Instant Blitz series.

OLG is a provincial crown agency that has operated in Ontario since 1975, with responsibilities spanning land-based gaming facilities, province-wide lottery games, internet gaming, bingo, and electronic gaming products at Charitable Gaming Centres.

Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “Launching with OLG gives Gaming Corps outstanding visibility in one of the most exciting regulated markets in North America. The timing could not be better. As global football moves into focus, we are bringing OLG a fantastic line-up that speaks directly to the moment, while also introducing some of our most recognisable titles, mechanics and characters.”

Ian Shelswell, Director, iCasino Product, Partnerships & Development at OLG, added: “OLG is always looking to bring high-quality content to our players, and Gaming Corps’ portfolio adds further variety to our iCasino offering at an exciting time in the sporting calendar. The combination of football-themed releases, instant win content, recognisable slot franchises and engaging game mechanics makes this a strong addition to our casino catalogue. We are pleased to welcome Gaming Corps to OLG and look forward to developing the partnership.”

The post Gaming Corps goes live with OLG iCasino in Ontario appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania